The Balance Sheet and Income Statement Shown Below Are for Pettijohn

question 31

Multiple Choice

The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
-What is the firm's current ratio?

• A) 0.97
• B) 1.08
• C) 1.20
• D) 1.33

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